A new economic policy agenda for Asia

The worldwide financial panorama is altering quick.

Scarring from the COVID-19 pandemic has weakened potential development, making slower revenue positive factors the brand new regular for a lot of nations. Geopolitical tensions — particularly the commerce and know-how “conflict” between the USA and China — are threatening not solely to halt globalization, a key enabler of development over the previous few many years, but additionally to separate the world financial system into separate blocs. And the times of low and secure inflation appear to be giving technique to structurally greater and extra risky costs.

In the meantime, speedy digitalization — propelled partly by superior applied sciences like generative synthetic intelligence — is constant apace and the consequences of local weather change have gotten extra seen by the day. Taken collectively, these developments pose main challenges to policymakers worldwide. These within the ASEAN+3 nations — the ten ASEAN member states, plus China, Japan and South Korea — are not any exception.